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We look to the history of the time of framing and to the intervening history of interpretation. But the ultimate question must be, what do the words of the text mean in our time. ↗
A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic. ↗
My dear colleague James Hansen, I believe, has finally gone off the deep end... The global warming 'time bomb,' 'disastrous climate changes that spiral dynamically out of humanity's control.' These are the words of an apocalyptic prophet, not a rational scientist. ↗
